Creating an endowment is a way to leave a permanent legacy supporting the education of thousands through generations at Barton. An endowment fund is created by donating at least $10,000, which is held as “principal.” That principal is then invested, and the Foundation uses the earnings from the investment to follow your intention. Additional gifts can later be made into the principal or for use immediately, depending on your philanthropic goals. The original principal must be funded within five years.
Scholarship
Each scholarship endowment is set up with your intentions for the type of student you would like to support. The “award criteria” can be based on where the student resides or graduates high school, their academic performance, major/program of study, and/or financial need, among other options. The less restrictive the fund, the more students are eligible for assistance from that fund. Each January, we determine the scholarship projection amount based on the calendar year-end balance of earnings in the fund and the intended payout.
Enhancement
Enhancement endowments are set up with your goal to support equipment, facilities, programs, and projects to make Barton better. These endowments are available whenever a project at Barton needs additional capital to that available from the general operating budget of the college. A simple example would be an equipment endowment for a specific department; another example would be general support for a specific program or initiative. The Foundation uses an open proposal system to identify and determine the fund matches.
Mixed Use
You can set up this type of fund to be used for scholarships and enhancements, with awards based on the criteria you set up. An example would be an endowment that provides scholarships and program grants to a specific department. This type of fund can also be completely unrestricted – you set up the fund and allow the Foundation to designate its use to wherever the college needs it most.